Summit Creek Advisors LLC acquired a new position in Vita Coco Company, Inc. (NASDAQ:COCO – Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 79,594 shares of the company’s stock, valued at approximately $5,264,000. Vita Coco comprises approximately 1.8% of Summit Creek Advisors LLC’s investment portfolio, making the stock its 27th largest position.
Several other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Vita Coco by 8.2% in the 4th quarter. Vanguard Group Inc. now owns 3,149,584 shares of the company’s stock valued at $166,959,000 after buying an additional 237,510 shares during the last quarter. Wasatch Advisors LP raised its position in shares of Vita Coco by 80.3% during the first quarter. Wasatch Advisors LP now owns 3,675,489 shares of the company’s stock worth $176,093,000 after acquiring an additional 1,637,437 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Vita Coco by 73.9% during the first quarter. Bank of New York Mellon Corp now owns 253,362 shares of the company’s stock worth $12,139,000 after acquiring an additional 107,684 shares during the last quarter. King Luther Capital Management Corp lifted its stake in shares of Vita Coco by 35.6% during the fourth quarter. King Luther Capital Management Corp now owns 136,987 shares of the company’s stock valued at $7,262,000 after acquiring an additional 35,937 shares during the period. Finally, Pier Capital LLC acquired a new position in shares of Vita Coco during the fourth quarter valued at $7,318,000. Institutional investors and hedge funds own 88.49% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of brokerages recently commented on COCO. Morgan Stanley lifted their price objective on Vita Coco from $65.00 to $68.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 28th. Zacks Research upgraded shares of Vita Coco from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 28th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Vita Coco in a research note on Wednesday, July 29th. Wells Fargo & Company lifted their price target on shares of Vita Coco from $75.00 to $85.00 and gave the stock an “overweight” rating in a research report on Monday, May 18th. Finally, Citigroup reissued a “buy” rating on shares of Vita Coco in a research note on Tuesday, May 26th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Vita Coco has a consensus rating of “Moderate Buy” and an average target price of $77.71.
Vita Coco Stock Down 3.0%
COCO stock opened at $63.54 on Wednesday. Vita Coco Company, Inc. has a twelve month low of $33.19 and a twelve month high of $85.83. The company has a market cap of $3.65 billion, a P/E ratio of 35.11, a price-to-earnings-growth ratio of 1.23 and a beta of 0.77. The business’s fifty day moving average is $71.67 and its 200-day moving average is $63.79.
Vita Coco (NASDAQ:COCO – Get Free Report) last announced its quarterly earnings data on Thursday, July 23rd. The company reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.26. Vita Coco had a return on equity of 31.09% and a net margin of 15.50%.The business had revenue of $216.15 million during the quarter, compared to analysts’ expectations of $210.64 million. During the same period in the previous year, the firm earned $0.38 earnings per share. The firm’s quarterly revenue was up 28.1% compared to the same quarter last year. Research analysts anticipate that Vita Coco Company, Inc. will post 1.96 earnings per share for the current fiscal year.
Insider Buying and Selling at Vita Coco
In other news, Director Kenneth Sadowsky sold 3,900 shares of the business’s stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $82.92, for a total transaction of $323,388.00. Following the completion of the transaction, the director directly owned 580,296 shares in the company, valued at approximately $48,118,144.32. The trade was a 0.67% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ira Liran sold 96,158 shares of the company’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $79.14, for a total value of $7,609,944.12. Following the completion of the sale, the director directly owned 476,421 shares of the company’s stock, valued at approximately $37,703,957.94. This trade represents a 16.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 351,945 shares of company stock valued at $28,007,266. 12.90% of the stock is currently owned by company insiders.
Vita Coco Company Profile
Vita Coco, Inc (NASDAQ: COCO) is a global beverage company specializing in coconut-based products. Founded in 2004 by Michael Kirban and Ira Liran, the company pioneered the introduction of refrigerated coconut water to U.S. consumers. Headquartered in New York City, Vita Coco sources coconuts from growers in tropical regions such as the Philippines, Indonesia and Brazil, partnering with local farmers to promote sustainable agriculture and community development.
The company’s flagship offering, Vita Coco Original Coconut Water, is available in multiple pack sizes and a variety of flavors.
Featured Stories
- Five stocks we like better than Vita Coco
- The AI Boom Is Turning This Cable Maker Into a Stock to Watch
- A Star Investor Just Trimmed Amazon—Here’s What It means
- Wendy’s Deal Buzz May Give Fast-Food Investors a New Reason to Look
- Home Depot Analysts See a Path to $375 and Beyond
Want to see what other hedge funds are holding COCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Vita Coco Company, Inc. (NASDAQ:COCO – Free Report).
Receive News & Ratings for Vita Coco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Vita Coco and related companies with MarketBeat.com's FREE daily email newsletter.
-logo-1200x675.jpg){kind=logo}
